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80% Of Zenefits Deals In Washington State Done By Unlicensed Brokers
Data obtained by BuzzFeed News shows the extent to which the company apparently flouted the state’s insurance law. Zenefits says it is doing a “comprehensive review” of its licensing systems.
In Washington state, where Zenefits is currently under regulatory scrutiny, 83% of the insurance policies sold or serviced by the company through August 2015 were peddled by employees without necessary state licenses, according to data obtained through a public records request. The apparent pattern of unlicensed insurance sales could strain Zenefits’ relationships with major insurance carriers, which demand that only properly licensed brokers sell their policies.
If this sounds familiar, it’s because BuzzFeed News broke the news last fall that the San Francisco-based Zenefits had apparently flouted many state’s insurance laws by allowing unlicensed employees to sell health insurance. There is evidence of this behavior in at least seven states, dating back as far as the summer of 2014 and continuing through summer 2015. We reported at the time that the insurance commissioner in Washington state was examining whether Zenefits operated there without licenses.
http://www.buzzfeed.com/williamalde...ashington-state-done-by-unlicensed#.rrlvxGVYo
Data obtained by BuzzFeed News shows the extent to which the company apparently flouted the state’s insurance law. Zenefits says it is doing a “comprehensive review” of its licensing systems.
In Washington state, where Zenefits is currently under regulatory scrutiny, 83% of the insurance policies sold or serviced by the company through August 2015 were peddled by employees without necessary state licenses, according to data obtained through a public records request. The apparent pattern of unlicensed insurance sales could strain Zenefits’ relationships with major insurance carriers, which demand that only properly licensed brokers sell their policies.
If this sounds familiar, it’s because BuzzFeed News broke the news last fall that the San Francisco-based Zenefits had apparently flouted many state’s insurance laws by allowing unlicensed employees to sell health insurance. There is evidence of this behavior in at least seven states, dating back as far as the summer of 2014 and continuing through summer 2015. We reported at the time that the insurance commissioner in Washington state was examining whether Zenefits operated there without licenses.
http://www.buzzfeed.com/williamalde...ashington-state-done-by-unlicensed#.rrlvxGVYo
